Agnico Eagle Mines Limited (NYSE:AEM) is Connor Clark & Lunn Investment Management Ltd.’s 6th Largest Position

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.6% during the fourth quarter, Holdings Channel reports. The firm owned 6,046,901 shares of the mining company’s stock after acquiring an additional 154,003 shares during the quarter. Agnico Eagle Mines makes up about 2.1% of Connor Clark & Lunn Investment Management Ltd.’s investment portfolio, making the stock its 6th biggest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in Agnico Eagle Mines were worth $472,475,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. US Bancorp DE boosted its holdings in shares of Agnico Eagle Mines by 43.3% during the 3rd quarter. US Bancorp DE now owns 6,595 shares of the mining company’s stock valued at $531,000 after buying an additional 1,994 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Agnico Eagle Mines by 1.4% during the 3rd quarter. Principal Financial Group Inc. now owns 21,822 shares of the mining company’s stock valued at $1,760,000 after purchasing an additional 302 shares during the period. Assetmark Inc. grew its position in Agnico Eagle Mines by 30.6% during the third quarter. Assetmark Inc. now owns 2,363 shares of the mining company’s stock valued at $190,000 after buying an additional 554 shares during the period. Atria Investments Inc purchased a new position in shares of Agnico Eagle Mines during the 3rd quarter worth $239,000. Finally, Sigma Planning Corp bought a new stake in shares of Agnico Eagle Mines during the 3rd quarter valued at $208,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Raymond James set a $105.00 price objective on shares of Agnico Eagle Mines and gave the company an “outperform” rating in a research report on Tuesday, February 4th. Royal Bank of Canada increased their target price on Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Scotiabank increased their price objective on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 21st. TD Securities decreased their price target on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Finally, StockNews.com downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.78.

Agnico Eagle Mines Price Performance

Shares of AEM stock opened at $100.54 on Wednesday. The company has a market capitalization of $50.56 billion, a P/E ratio of 26.60, a P/E/G ratio of 0.66 and a beta of 1.00. The company’s 50-day simple moving average is $92.15 and its two-hundred day simple moving average is $85.63. Agnico Eagle Mines Limited has a one year low of $54.02 and a one year high of $101.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. As a group, equities analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.59%. Agnico Eagle Mines’s dividend payout ratio is presently 42.33%.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.